Nektar Therapeutics Gets a Buy Rating from Mizuho Securities

By Austin Angelo

In a report released today, Difei Yang from Mizuho Securities assigned a Buy rating to Nektar Therapeutics (NASDAQ: NKTR), with a price target of $89. The company’s shares closed yesterday at $75.66.

Yang said:

“We expect both Nektar and BMY to jointly report clinical data going forward.”

According to TipRanks.com, Yang is a 5-star analyst with an average return of 19.2% and a 50.3% success rate. Yang covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Fennec Pharmaceuticals Inc, and Spectrum Pharmaceuticals.

Currently, the analyst consensus on Nektar Therapeutics is Strong Buy and the average price target is $85.67, representing a 13.2% upside.

In a report issued on February 5, Jefferies also maintained a Buy rating on the stock with a $88 price target.

Based on Nektar Therapeutics’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $153 million and quarterly net profit of $60.87 million. In comparison, last year the company earned revenue of $37.45 million and had a GAAP net loss of $42.2 million.

Based on the recent corporate insider activity of 84 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NKTR in relation to earlier this year. Earlier this month, John Nicholson, the SVP & Chief Operating Officer of NKTR bought 120,000 shares for a total of $1,360,800.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Nektar Therapeutics is a clinical-stage biopharmaceutical company, which engages in developing drug candidates that utilize its PEGylation and polymer conjugate technology platforms. Its products contain drug candidates of therapeutic areas, including oncology, pain, anti-infectives, anti-viral, and immunology.